Longs in the live cattle market are back to taking money off the table on Tuesday, with contracts down $2 to $2.50 at midday. Monday was first notice day for February live cattle, with no deliveries issued. Cash cattle trade was $208 in the North last week, with Southern sales at $206, with both regions down $2 from the week prior. 

Feeder cattle futures are also facing some pressure, with futures down $3 to $3.50 at Tuesday’s midday trade. The CME Feeder Cattle Index was reported at $275.76 on February 7, up 17 cents from the day prior. Monday’s OKC weekly feeder cattle auction sold an estimated 4,743 head, nearly half of last week’s total. Sales on steers were steady to $5 lower, with lighter steer calves down $12. Feeder heifers were $5 higher, with heifer calves $3-6 lower.

USDA’s National wholesale Boxed Beef report showed beef prices back lower Tuesday AM report, with the Chc/Sel spread widening @ $10.32. Choice boxes were back down 88 cents to $322.62/cwt, with Select $1.62 lower at $312.30. USDA’s estimated federally inspected cattle slaughter on Monday was 100,000 head. That was 15,000 head below last Monday and down 14,805 head from the same Monday last year.

Feb 25 Live Cattle  are at $199.500, down $2.375,

Apr 25 Live Cattle  are at $195.700, down $2.425,

Jun 25 Live Cattle  are at $191.150, down $2.050,

Mar 25 Feeder Cattle  are at $264.650, down $3.250

Apr 25 Feeder Cattle  are at $264.600, down $3.175

May 25 Feeder Cattle  are at $263.300, down $3.025